EXCLUSIVE LISTINGS
WINTER/SPRING 2015
(INCLUDING OVERVIEW OF THE 2014 ORANGE
COUNTY, NY COMMERCIAL REAL ESTATE MARKET)
218 Greenwich Avenue, Goshen, NY 10924 Phone: (845) 294-1000 Fax: (845) 294-1070
www.MansfieldCommercial.com
OVERVIEW OF THE ORANGE COUNTY, NY
COMMERCIAL REAL ESTATE MARKET
AT YEAR-END 2014
by Elisabeth Mansfield
The Industrial Market in 2014
As expected, the vacancy rate for prime
industrial space in Orange County, NY
was reduced to a perilously low 4.0% by
year-end 2014 as activity continued to
pick up but spec development did not.
Users seeking space for lease or for
sale had considerably limited choices.
As a result, build-to-suit construction
has expanded in the region. With the
economic recovery seemingly more
consistent and with appearances that
consumer confidence is finally growing,
companies are stepping up and
building what they need.
There was 788,000 square feet of
build-to-suit construction in 2014,
bringing the total inventory of prime
industrial space in Orange County, NY
to 20.9 million square feet. Six new
buildings came on-line, the largest of
which was the ±513,000 square foot
United Natural Foods, Inc. distribution
center on Neelytown Road in the Town
of Montgomery, the company's first in
New York State. UNFI is North
America's leading distributor of natural,
organic and specialty food products,
and their new building is the first LEED
Gold Certified distribution building in
Orange County. In the Town of Chester,
Coach USA completed a ±199,000
square foot facility in Tetz Industrial
Park for its Short Line commuter bus
service, relocating the operation from
Mahwah, NJ. Two buildings were
constructed in the City of Middletown;
a ±31,000 square foot transfer facility
on Industrial Place Extension for
Middletown Auto Wreckers, and a
±21,000 square foot warehouse
supporting Mandarin Soy Sauce's
manufacturing facility on Sands Station
Road, were both completed in 2014. In
the Town of Goshen, TAM Enterprises
moved into its new ±15,000 square
foot facility on Hartley Road; and
finally, in the Town of Wawayanda,
Boyce Excavating relocated to its new
±8,800 square foot shop and offices.
At year-end 2014, there was also a
significant amount of build-to-suit
construction planned for the County
going forward, with over 1,500,000
square feet anticipated to come on-line
through 2017. Some of these projects
are winding their way through the
approval process, and some have
secured the necessary approvals and
will be commencing construction in
2015. Amy's Kitchen is seeking
approvals to construct a ±350,000
square foot facility in the Town of
Goshen to manufacture frozen organic
and vegetarian meals; Kikkerfrosch
Brewery is seeking approvals to
construct a ±70,000 square foot facility
for German-style lager beer
manufacturing on NY Route 17M in the
Village of Goshen; Steris is in the
process of securing approvals to
construct ±70,000 square feet, its
second building in Chester Industrial
Park; Old Dominion has approvals to
proceed on its new ±40,000 square
foot distribution facility to be
constructed in the Town of Wallkill;
Monroe Cable will complete its
±40,000 square foot expansion on
Commercial Drive in the Town of
Wallkill; and Piller, a leading producer
of uninterruptible power supply
systems, has received approval to start
on its new ±24,000 square foot facility
on Wes Warren Drive, also in the Town
of Wallkill.
Absorption of industrial space in Orange
County, NY was relatively strong in
2014 with over 1.5 million square feet
of space taken, over 90% of it in prime
industrial buildings. About a quarter of
this activity was through leasing, many
of the notable transactions happening
in the Town of Wallkill: Nexans Energy
USA leased ±85,000 square feet of
distribution space, Amscan leased
±36,000 square feet of warehouse
space, and Applied Medical leased
±27,500 square feet for warehousing
and packaging. Supplementing the
space absorbed by companies which
constructed their new facilities was the
acquisition by the Watchtower Bible and
Tract Society of the ±220,000 square
foot former food warehouse on Bracken
Road in the Town of Montgomery.
Presently being used on an interim
basis to assemble prefabricated items
for its world headquarters now under
construction in the Town of Warwick,
the building will ultimately be used for
warehousing and supplemental offices.
This religious organization is relocating
its operations from Brooklyn and has
purchased several hotels, apartments
(continued on page 15)
2
INDUSTRIAL
±90,000 sq. ft. on ±10.77 Acres, Shovel Ready
±21,880 sq. ft.
105 Bracken Road, Town of Montgomery, NY
3050 NY Route 208, Town of Shawangunk, Ulster County, NY
Final site plan approvals are in place for an ±89,960 sq. ft. industrial
building to be constructed on ±10.77 acres in Montgomery Corporate
Park. Much site work has been done -- the land has been cleared and
leveled, fill has been brought in, and the well (for potable water) has
been drilled. The planned building, designed to be divisible to 30,000
sq. ft., includes 40 ft. ceiling heights, 12 tailgate-level loading doors,
and ±9,000 sq. ft. of office space (the approved plan can be modified to
accommodate a user's specific needs). Natural gas and electric are onsite, plus municipal water for fire protection and municipal sewer. Less
than one mile to Interstate 84, approximately eight miles to NY State
Thruway / Interstate 87, and ten miles to NY Route 17 /Interstate 86.
Zoned I-1 -- Industrial Park. For sale at $1,299,000.
This ±21,880 sq. ft. industrial building is situated on ±2.6 acres just
north of the Orange County border, in the Town of Shawangunk. The
warehouse (dimensions ±80 ft. by ±250 ft.) has three drive-in doors and
one tailgate-level loading door; additional tailgate-level doors can be
added. Ceiling heights are 24 feet at center, 18 feet at eaves. There is
an office section of ±1,880 sq. ft. on the front of the building, plus there
is some more finished space in the warehouse (lunch room, office,
storage room, and two restrooms, one with shower). Approximately
seven miles to Interstate 84. Zoned SB -- Small Business, allowing light
industry, office, retail, day care, house of worship, commercial
recreation, self-service storage facility. For lease at $4.50 per sq. ft.,
triple net.
INDUSTRIAL
±19,000 sq. ft.
±6,000 sq. ft.
21 Fulton Street, City of Middletown, NY
1266 Pulaski Highway, Town of Goshen, NY
This ±19,000 sq. ft. building, a former car dealership most recently
used by a school bus company, is located on a ±3.7 acre lot with
extensive paved parking. The building is comprised of three main areas:
a ±4,500 sq. ft. air-conditioned lobby and showroom / office area; a
±2,000 sq. ft. former parts / storage area; and a ±12,400 sq. ft. shop
area (the former vehicle service center). The shop area is clear span,
has ±16 foot ceiling heights, and has drive-through access via two
overhead doors on each end. Zoned C-3 – General Business, which
allows light manufacturing, retail, office, service establishment, motor
vehicle sales, public garage, theater, hotel / conference center.
Approximately two miles to Interstate 84 and approximately four miles to
NY Route 17 / Interstate 86. For sale at $1,500,000. For lease at
$8.00 per sq. ft., triple net.
Only 2½ miles from NY Route 17 / Interstate 86, this ±6,000 sq. ft.
industrial building is situated on ±3.1 acres, including a large area with
compacted gravel, ideal for outdoor storage. The building has ±1,200
sq. ft. of well-appointed offices, and the balance is shop space with 13
ft. clear ceiling heights and two 12’ x 12’ drive-in doors. Presently used
for warehousing, the property is zoned RU. For sale at $450,000. For
lease at $6.00 per sq. ft., triple net.
FOR MORE INFORMATION, CALL MANSFIELD COMMERCIAL REAL ESTATE AT 845-294-1000
3
INDUSTRIAL
±3,050 sq. ft.
Industrial Complex on Five Acres
162 NY Route 17K, Town of Newburgh, NY
33 Hallock Drive, Washingtonville, NY
Located less than one mile from Interstate 84, this ±1.02 acre lot is
improved with a ±3,050 sq. ft. industrial building which has ±2,050 sq.
ft. of warehouse space and ±1,000 sq. ft. of recently renovated air
conditioned office space. The building has three tailgate-level loading
doors and one drive-in door. Ceiling heights are 17 feet. Presently
served by well and septic, municipal water and sewer are available.
Natural gas heat. Ideal for contractors, or users requiring easy highway
access and excellent exposure. Approximately three miles west of NY
State Thruway / Interstate 87, exit 17. Zoned IB – Interchange Business.
For lease at $9.00 per sq. ft., triple net. For sale at $449,000.
Formerly a propane storage and distribution facility, this ±5 acre lot is
improved with three buildings including a ±960 sq. ft. office building, a
±1,300 sq. ft. storage building, and a covered loading platform with pole
barn. Gated fencing encloses the buildings and parking area. Municipal
water and sewer. Buildings and paved area are zoned I -- Industrial;
permitted uses include non-nuisance industry, office, auto sales,
distribution / storage, retail, workshop, personal service store. The
balance of the lot is zoned R-100 -- Single Family Residential. Located
approximately 300 ft. south of East Main Street / NY Route 94, and
approximately eight miles to both NY Route 17 / Interstate 86 and
Interstate 84. For sale at $399,000.
INDUSTRIAL
Industrial Complex on ±1.6 Acres
78 Cold Spring Road, Monticello, Sullivan County, NY
See “Land” Listings, pages 9 - 11
for additional Industrial Development Sites
Just three miles from the new casino under construction. Formerly a
propane storage and distribution facility, this ±1.6 acre property is
improved with three buildings including a ±2,100 sq. ft. office building
and two adjoining block buildings with an adjacent concrete platform.
Municipal water and sewer. Gated fencing encloses the property, which
is flat and level. Zoned HC-2 -- Highway Commercial, allowing business
offices, retail, warehousing, mini-storage, car wash, eating and drinking
establishment, service establishment, personal services, day care,
motor vehicle service station, greenhouse / nurseries, outdoor sales,
place of worship, animal hospital, outdoor storage. Located less than
one mile south of Broadway, and approximately 1½ miles to NY Route
17 / Interstate 86. For sale at $125,000.
FOR MORE INFORMATION, CALL MANSFIELD COMMERCIAL REAL ESTATE AT 845-294-1000
4
OFFICE
±12,500 sq. ft.
±6,000 sq. ft.
3001 Route 9W, New Windsor, NY
900 Corporate Boulevard, Town of Newburgh, NY
This three-story, ±12,500 sq. ft. building is situated on a ±4.3 acre lot
overlooking the Hudson River. With over 480 feet frontage on Route 9W
(with 24,550 cars passing daily), the property can be accessed from
both northbound and southbound traffic. Built in the mid-19th century
as a residence, the building has been renovated and expanded over the
years. A handicap ramp provides access at the building rear. There are
six drive-in doors to the lower level on the south side of the building.
There is paved parking for over 125 cars. Zoned NC -- Neighborhood
Commercial; uses include office, retail, eating and drinking / catering
establishments, personal services, consumer services, places of
worship, fraternal / social clubs, hotel / motel. Approximately four miles
to Interstate 84, and less than seven miles to NY State Thruway /
Interstate 87. For sale at $975,000.
Approximately 6,000 sq. ft. is available for lease within this office / flex
building. As an end unit, the suite has two walls of windows providing
lots of natural light. Approximately 5,025 sq. ft. is finished office space
with perimeter private offices, open / cubicle areas, a conference room,
and kitchenette. At the rear of the suite is a ±975 sq. ft. storage area
with 20 ft. ceiling heights (which could also be converted to offices).
Less than two miles to Interstate 84, exit 7, and to NY State Thruway /
Interstate 87, exit 17. For lease at $12.00 per sq. ft., triple net.
OFFICE
±1,300 sq. ft. to ±5,686 sq. ft.
±5,362 sq. ft.
20 Walker Street, Village of Goshen, NY
3250 Route 9W, New Windsor, NY
Within this three-story mixed-use building in the center of the Village, up
to ±5,686 sq. ft. of office space is available for lease. The available
space consists of the second and third floors of the building, accessible
via elevator from the dedicated lobby entrance on Walker Street. The
space has several individual offices with windows letting in lots of
natural light, plus two conference rooms, staff / break room, clerical and
open areas. Both floors have an intercom system connected to the
lobby entrance, allowing tenants to control access -- ideal for
organizations that wish to lock the door after regular business hours.
Approximately one mile to NY Route 17 / Interstate 86. For lease at
$14.00 per sq. ft., triple net.
This two-story ±5,362 sq. ft. office building is situated on a ±1.4 acre lot
with views overlooking the Hudson River. Each floor has a conference
room, private offices, and administrative areas. Two staircases connect
the upper and lower level. Excellent exposure: over 200 feet frontage
on Route 9W with existing signage facing Route 9W, and 12,990 cars
passing daily. Zoned NC – Neighborhood Commercial. Located just
south of the intersection with NY Route 94, approximately two miles to
Interstate 84 and approximately five miles to NY State Thruway /
Interstate 87. For lease at $12.00 per sq. ft., triple net. For sale at
$499,000 (in contract).
FOR MORE INFORMATION, CALL MANSFIELD COMMERCIAL REAL ESTATE AT 845-294-1000
5
OFFICE
±1,416 sq. ft. to ±4,400 sq. ft.
±3,286 sq. ft.
New Windsor Business Park
100 Commerce Drive, New Windsor, NY
78 Cypress Road, Town of Goshen, NY
Four suites are available for lease in this ±18,500 sq. ft. single-story
masonry and glass multi-tenanted building. Suite 101 is a ±4,400 sq.
ft. corner office. Suite 103 is a ±3,500 sq. ft. office. Suite 106 is a
±1,416 sq. ft. corner office. Suite 107 is a ±1,485 sq. ft. office (can be
combined with Suite 106 for ±2,901 sq. ft.). Located in a 17-acre,
beautifully landscaped, Class A office park, presently improved with four
buildings, two of which are multi-tenanted, and two that are singletenant occupancies. Close to restaurants and shopping, with easy
highway access. Additional development is planned within the park. For
lease at $12.00 per sq. ft., triple net.
A ±3,286 sq. ft. suite is available on the lower level of this two-story
±15,348 sq. ft. office building, centrally located between Goshen and
Middletown. Situated on a spacious ±7.8 acre lot with easy highway
access via exit 122A of NY Route 17. Formerly a physical therapy office,
the space has an entire wall of windows providing lots of natural light,
and consists of a large open area, waiting room, kitchen, file room, two
restrooms, and storage areas. Plenty of parking. Less than ¼ mile to
NY Route 17 / Interstate 86 and only three miles to Interstate 84. For
lease at $12.00 per sq. ft., triple net.
This building is also for sale. (See "Investment" properties, page 8, for
further details.)
OFFICE
±1,300 sq. ft. and ±2,650 sq. ft.
±1,800 sq. ft. and ±2,588 sq. ft.
The Commerce Center at Crystal Run
110 Crystal Run Road, Town of Wallkill, NY
New Windsor Business Park
484 Temple Hill Road, Town of New Windsor, NY
Two suites are available for lease within this ±25,313 sq. ft. single-story
Class A office building with frontage on Crystal Run Road. Available
immediately is a ±2,650 sq. ft. suite, finished with a mix of private
offices and open areas, and with private entrances at both the front and
rear of the building. Available May 2015 is a corner suite of ±1,300 sq.
ft. With abundant parking, the building is only minutes from Orange
Regional Medical Center, and conveniently located at the interchange of
NY Route 17 / Interstate 86 and Interstate 84. For lease at $19.00 per
sq. ft., plus utilities.
Two corner suites, ±1,800 sq. ft. and ±2,588 sq. ft., are available for
lease in this ±18,500 sq. ft. single-story masonry and glass multitenanted office building. Located in a 17-acre, beautifully landscaped,
Class A office park, presently improved with four buildings, two of which
are multi-tenanted, and two that are single-tenant occupancies. Close
to restaurants and shopping, with easy highway access. Additional
development is planned within the park. For lease at $12.00 per sq. ft.,
triple net.
FOR MORE INFORMATION, CALL MANSFIELD COMMERCIAL REAL ESTATE AT 845-294-1000
6
OFFICE
±2,400 sq. ft.
±1,838 sq. ft.
33 NY Route 17M, Harriman, NY
402 East Main Street, Town of Wallkill, NY
A ±2,400 sq. ft. medical suite is available for sublease within this
±13,300 sq. ft. single-story medical office building. The suite has a
covered entrance with vestibule and two doors accessing the large
lobby / waiting area (accommodating ±25 patients). There is a fourperson reception area, a small lab, two rest rooms, seven exam rooms,
and two private offices. Ample parking. Excellent location,
approximately one mile to NYS Thruway / Interstate 87 and to NY Route
17 / Interstate 86. Sublease term through March 31, 2018. For
sublease at $25.00 per sq. ft., triple net.
The second floor of this two-story office building, a former legal office
totaling ±1,838 sq. ft., is available for lease. The building is well
maintained and nicely landscaped. The primary entrance is
handicapped accessible and is located at the building rear, adjacent to
the parking lot. The building has prominent signage along East Main
Street, with 12,500 vehicles passing daily. Less than 1½ miles to
Orange Regional Medical Center, approximately two miles to NY Route
17 / Interstate 86, and approximately three miles to Interstate 84. For
lease at $2,250 per month, plus utilities.
OFFICE
±1,625 sq. ft.
±1,542 sq. ft.
28 Carpenter Place, Village of Monroe, NY
160 NY Route 17K, Town of Newburgh, NY
This ±1,625 sq. ft. building is located on ±.17 acre in Monroe's
downtown business district, adjacent to the Village Police Department.
Presently occupied by two tenants. There is also a full attic with
shelving for additional storage. Ample free parking is available onstreet. Zoned CB – Central Business, the property can be used for
professional office, bank, medical / dental office, retail, personal service.
Less than two miles to NY Route 17 / Interstate 86, and approximately
four miles to NY State Thruway / Interstate 87. For sale at $250,000.
Located less than one mile from Interstate 84 are four lots totaling ±1.5
acres, improved with a ±1,542 sq. ft. office building. Presently served
by well and septic, municipal water and sewer are available. Natural gas
heat. Ample paved parking. Ideal for users requiring easy highway
access and excellent exposure, with ±200 ft. frontage on NY Route 17K.
Approximately three miles west of NY State Thruway / Interstate 87, exit
17. Zoned IB -- Interchange Business. For sale at $549,000.
FOR MORE INFORMATION, CALL MANSFIELD COMMERCIAL REAL ESTATE AT 845-294-1000
7
INVESTMENT
±15,348 sq. ft.
78 Cypress Road, Town of Goshen, NY
This unique two-story ±15,348 sq. ft. passive solar office building is
situated on ±7.8 acres centrally located between Goshen and
Middletown, with easy highway access via exit 122A of NY Route 17.
Currently divided into six office suites, the building has a ±3,286 sq. ft.
suite available for lease. Both levels are on grade, with ample parking
for each level. Less than ¼ mile to NY Route 17 / Interstate 86 and only
three miles to Interstate 84. For sale at $1,400,000.
INVESTMENT
±8,400 sq. ft. Investment Property
Car Wash, Laundromat, and Residence
23 Grant Street, Walden, NY
Net operating income has increased over 30% each year, on average,
since 2012. This well-established business, family operated since
1969, is meticulously maintained and well located on NY Route 208
with 10,000 vehicles passing daily. The property, renovated with new
equipment, includes an automated 75 ft. tunnel soft foam car wash, a
four-bay self-service car wash, and a Laundromat. It is the only car
wash in Walden, and one of only two Laundromats in this Village of
approximately 7,000 people. Also included in the sale is a two
bedroom, two bath residence (on a separate lot). All utilities, and the
property has its own well too. Owner is presently operating business on
site and will vacate upon closing. For sale at $1,600,000.
FOR MORE INFORMATION, CALL MANSFIELD COMMERCIAL REAL ESTATE AT 845-294-1000
8
INVESTMENT
±4,800 sq. ft. Investment Property
Car Wash, Retail Storefronts, and Apartment
29 Boniface Drive, Pine Bush, NY
This concrete block facility was constructed in 1997 on ±1.1 acres in
this active retail area. There is a two-story section with two storefronts
measuring ±1,200 sq. ft. each (one is available for lease). Above the
storefronts is a ±2,400 sq. ft. five-bedroom apartment (can be
converted to two apartments). A four-bay self service car wash extends
from the two-story structure; sale includes all equipment. Parking for
28 cars. Zoned BP – Business Park. The site is opposite the entrance
to Hannaford Supermarket, and approximately 300 feet from NY Route
52. For sale at $599,000.
LAND
±63 Acres at NY Route 17, Exit 122A
Cheechunk Road, Town of Goshen, NY
Overlooking NY Route 17, two lots on Cheechunk Road and 6½ Station
Road are available for sale. Zoned CO – Commercial Office Mixed-Use
(uses include light industry, office, warehouse, wholesale business,
retail, single-family dwelling and multifamily dwelling), the property can
accommodate ±175,000 sq. ft. of flex space in two buildings, with
potential for increased development if additional fill is removed. Much
engineering work has already been done: wetlands have been
delineated, well-testing and archeological studies are completed, and
conceptual plans have been prepared. Site includes pending AT&T cell
tower approval that will generate $30,000 per year income. Easy
highway access at exit 122A of NY Route 17, approximately three miles
to Interstate 84, and approximately 15 miles to NY State Thruway /
Interstate 87. For sale at $900,000.
FOR MORE INFORMATION, CALL MANSFIELD COMMERCIAL REAL ESTATE AT 845-294-1000
9
LAND
±27 Acres at NY Route 17, Exit 122A
Cheechunk Road, Town of Goshen, NY
Bordering NY Route 17, this ±27 acre lot on Cheechunk Road is
available for sale. Zoned RU - Rural, it is able to accommodate seven
residential building lots. Other uses include educational / charitable /
religious, health care facility, membership club, veterinary hospital, soil
mining, and agricultural. Much engineering work has already been
done: wetlands have been delineated and archeological studies are
completed. Easy highway access at exit 122A of NY Route 17,
approximately three miles to Interstate 84, and approximately 15 miles
to NY State Thruway / Interstate 87. For sale at $275,000 (in contract).
LAND
±11.66 and ±6.1 Acres
Dolsontown Road, Town of Wawayanda, NY
Two commercial lots are available for sale. The larger lot is ±11.66
acres, with over 900 feet fronting on the south side of Dolsontown Road,
just 500 feet from NY Route 17M / Dolson Avenue, able to
accommodate an industrial building of ±86,000 sq. ft. (conceptual
plans are available). The smaller lot is ±6.1 acres on the north side of
Dolsontown Road, with ±677 feet of frontage. Some engineering has
been done (surveys, topos, and wetlands have been delineated). Both
lots have municipal water and sewer, natural gas and electric. Zoned
MC-1 – Mixed Commercial, allowing light manufacturing, offices, retail,
restaurant, business services and personal services, hotel / conference
center. Only one-half mile to Interstate 84, and five miles to NY Route
17 / Interstate 86. ±11.66 acre lot for sale at $1,100,000. ±6.1 acre
lot for sale at $475,000.
FOR MORE INFORMATION, CALL MANSFIELD COMMERCIAL REAL ESTATE AT 845-294-1000
10
LAND
±10.77 Acres, Shovel Ready
105 Bracken Road, Town of Montgomery, NY
Final site plan approvals are in place for an ±89,960 sq. ft. industrial
building to be constructed on this ±10.77 acre lot in Montgomery
Corporate Park. The approved site plan can be modified to
accommodate a user's specific needs. Much site work has been done:
the land has been cleared and leveled, fill has been brought in, and the
well has been drilled. Natural gas and electric are on-site, plus
municipal water for fire protection and municipal sewer. Less than one
mile to Interstate 84, approximately eight miles to NY State Thruway /
Interstate 87, and ten miles to NY Route 17 / Interstate 86. Zoned I-1,
Industrial Park. For sale at $1,299,000.
LAND
±4.3 Acres, Shovel Ready
181 Bracken Road, Town of Montgomery, NY
Approvals are in place for two industrial buildings, ±13,275 sq. ft. and
±12,000 sq. ft., to be constructed on ±4.3 acres in Montgomery
Corporate Park. Municipal water (for fire protection) and sewer
available. An alternative conceptual plan has been prepared for a single
building of ±9,000 sq. ft. with a septic system, allowing the balance of
the lot to be used for future expansion (this plan would require
additional approvals). Natural gas and electric are on-site. A
Middletown & New Jersey Railroad spur bisects the property. Less than
two miles to Interstate 84, approximately eight miles to NY State
Thruway / Interstate 87, and 11 miles to NY Route 17 / Interstate 86.
Zoned I-1 – Industrial Park. For sale at $279,000.
FOR MORE INFORMATION, CALL MANSFIELD COMMERCIAL REAL ESTATE AT 845-294-1000
11
RETAIL
±11.66 and ±6.1 Acres
Dolsontown Road, Town of Wawayanda, NY
Located just ±500 feet from Dolson Avenue with traffic counts of
41,600 cars per day, this ±11.66 acre lot has over 900 feet of frontage
on Dolsontown Road. Across the street is a ±6.1 acre lot with ±677 feet
of frontage, which can be sold separately. Both lots have municipal
water and sewer, natural gas and electric. Zoned MC-1 -- Mixed
Commercial, allowing retail, restaurant, business services and personal
services, hotel / conference center, and more. Only one-half mile to
Interstate 84. ±11.66 acre lot for sale at $1,100,000. ±6.1 acre lot for
sale at $475,000.
RETAIL
±1.2 Acre Pad Site for up to 11,000 sq. ft.
600 NY Route 211 East, Town of Wallkill, NY
This ±1.2 acre pad site with 340 feet of frontage on NY Route 211 is
shovel-ready for a retail building of up to 11,000 sq. ft. with a drive-up.
The site is just 750 feet east of the Galleria at Crystal Run regional mall
entrance, with over 25,000 cars passing daily. On the adjacent lot, a
96-room Home2 Suites by Hilton extended stay hotel will be constructed
in 2015. Municipal water and sewer, natural gas and electric on-site.
Easily accessible from both eastbound and westbound Route 211, the
site will also have access to North Galleria Drive. Just one-half mile to
NY Route 17 / Interstate 86, and ±1.3 miles to Interstate 84. Ground
lease $125,000 per year, triple net.
Route 211 is the premier retail corridor in the Hudson
Valley region, attracting tenants and shoppers with
over three million square feet of retail space.
FOR MORE INFORMATION, CALL MANSFIELD COMMERCIAL REAL ESTATE AT 845-294-1000
12
RETAIL
±1.5 Acres
±1.02 Acres
160 NY Route 17K, Town of Newburgh, NY
162 NY Route 17K, Town of Newburgh, NY
EXCELLENT EXPOSURE -- IDEAL FOR REDEVELOPMENT TO RETAIL.
Located on busy NY Route 17K, these four lots totaling ±1.5 acres are
improved with a ±1,542 sq. ft. building, currently used for offices.
Municipal water and sewer are available (building is presently served by
on-site well and septic). Natural gas heat. There is ±200 ft. frontage on
NY Route 17K. Traffic counts are 16,340 vehicles (2012 AADT
estimate). Approximately one mile east of Interstate 84, exit 6;
approximately three miles west of NY State Thruway / Interstate 87, exit
17. Zoned IB -- Interchange Business. For sale at $549,000.
EXCELLENT EXPOSURE - IDEAL FOR REDEVELOPMENT TO RETAIL.
Located on busy NY Route 17K, this ±1.02 acre lot is improved with a
±3,050 sq. ft. industrial building which has ±2,050 sq. ft. of warehouse
space and ±1,000 sq. ft. of recently renovated air conditioned office
space. The building has three tailgate-level loading doors and one drivein door. Ceiling heights are 17 feet. Municipal water and sewer are
available (building is presently served by on-site well and septic).
Natural gas heat. Traffic counts are 16,340 vehicles (2012 AADT
estimate). Approximately one mile east of Interstate 84, exit 6;
approximately three miles west of NY State Thruway / Interstate 87, exit
17. Zoned IB - Interchange Business. For sale at $449,000.
RETAIL
±1,200 sq. ft.
29 Boniface Drive, Pine Bush, NY
A ±1,200 sq. ft. retail storefront is available for lease in this mixed-use
facility with excellent visibility, located opposite the entrance to
Hannaford Supermarket and approximately 300 feet from NY Route 52.
The building consists of two storefronts adjacent to a four-bay selfservice car wash, and a residential apartment on the upper level. The
available storefront is on the right side, nearest the car wash. There is
ample parking, oil-fired baseboard heat and central air conditioning. For
lease at $1,250 per month, plus utilities.
FOR MORE INFORMATION, CALL MANSFIELD COMMERCIAL REAL ESTATE AT 845-294-1000
13
MIXED USE
±13,000 Sq. Ft. Five-Building Complex
170 West Main St, Port Jervis, NY
This former Roman Catholic church and its support buildings are
available for sale. The former main chapel is ±3,732 sq. ft., and
features stained glass, vaulted wood ceilings, balcony, bell tower, and
restrooms. A new boiler was installed in 2012. The former rectory is
±3,389 sq. ft. attached to the main chapel, consisting of two stories
plus attic and basement. The former parish hall is a ±2,964 sq. ft.
handicap accessible building constructed in 1992 with a large open
main room, prep kitchen, restrooms, and central air. The former
education center is a ±2,736 sq. ft. converted residence with nine
rooms and two bathrooms. There is also a 14’ x 20’ unheated garage
on the property. Paved parking plus on-street parking. Zoned R-1,
permitting schools, nonprofit membership clubs, nursery schools,
convenience retail stores (subject to Planning Board approval). The
property can also be designated a "Senior Citizen Affordable Housing
District". For sale at $475,000.
For additional market information, please visit
www.MansfieldCommercial.com
FOR MORE INFORMATION, CALL MANSFIELD COMMERCIAL REAL ESTATE AT 845-294-1000
14
Overview of the Orange County,
NY Commercial Real Estate
Market at Year-End 2014
(continued from page 2)
and homes in the region to house the
volunteer workforce from their
community that is handling the
construction and renovations.
Several of the older industrial buildings
in the County continued to experience a
rebirth, lowering the vacancy rate for
total industrial inventory (including nonprime space) down to 5.3%. The
County's total industrial inventory,
including non-prime space, stood at 27.4
million square feet at year-end 2014.
Seemingly leading the way in
transforming some of these older
buildings is an emerging beverage
sector. In the City of Middletown, the
former Clemson Brothers building on
Cottage Street, originally used for
hacksaw manufacturing, will become the
new home of both Sabila Aloe Drink and
the Clemson Brewery; and another craft
brewery, Equilibrium, will be converting a
former meat-packing plant on Henry
Street. These microbreweries join
Newburgh Brewing Company (in a 160year-old building on South Colden Street)
in the City of Newburgh, and Rushing
Duck Brewing Company (in a former
railroad storage facility) in downtown
Chester, which both opened their doors
in 2012.
At year end 2014, there was only about
825,000 square feet of prime industrial
space available for lease or sale in the
County, an amount which could be
absorbed in an average year. The
County's industrial vacancy rate is again
below the national average of 7.2% (as
per CoStar Group, Inc.). This trend has
not gone unnoticed, and some
developers are finally resuming
construction of spec space. In the Town
of Chester, the new owner of a formerly
proposed fitness facility (on which
construction ceased 25 years ago) is
seeking approvals to convert it to
±60,000 square feet of industrial space
that he will make available for lease. In
the Town of Goshen, another developer
has approvals for ±40,000 square feet
of flex space, and is now marketing it
with plans to commence construction in
the spring. And at Vails Gate Business
Center, the developer is hoping to
construct another ±80,000 square feet
of spec space. These, and a few
additional projects in the planning
stages, represent the County's first
significant spec development in ten
years.
Perhaps the silver lining to the
announcement that there will be no
casino licenses granted in Orange
County is that some of the sites optioned
by casino developers will now be back on
the market and once again available for
industrial development. Industry experts
predict an increasing demand for
warehouse space on the East Coast with
the expansion of the Panama Canal.
"The driver of demand for warehouse
space is switching from the place of
production to the place of consumption," 1
says Rene Circ, Director of Research at
CoStar, citing the impact of e-commerce,
demand for reduced delivery times, and
the increase of direct-to-consumer
product fulfillment. Orange County has
always been a strong distribution market
with its extensive road network and its
location at the center of the BostonWashington corridor, with the ability to
reach over 50 million people within one
day's trucking time. The need for an
additional supply of industrial space
seems evident.
office market. Although it does not yet
feel significantly better for most
landlords, the Class A office market has
been improving, considering the County's
12% vacancy rate only five years ago.
There was no new construction of Class
A office space in 2014 and so the
inventory of Class A office space in
Orange County remained unchanged at
4.4 million square feet. That will not be
the case for long, as there were two
office buildings under construction at
the end of 2014, both built-to-suit. The
Federal Bureau of Investigation will be
leasing a new ±24,000 square foot
building on Avenue of the Americas in
New Windsor upon its completion in
April, relocating from a smaller leased
facility in the Village of Goshen. This
summer, Crystal Run Healthcare will
open its new ±66,000 square foot stateof-the-art medical office opposite
WalMart on Route 300 in the Town of
Newburgh.
Since 2002, nearly half of the office
space constructed in Orange County has
been medical-related, and nearly 40% of
that has been for Crystal Run
Healthcare. This growing medical
practice has also announced plans to
break ground in 2015 on a ±70,000
square foot medical facility in the Village
of Monroe, with anticipated completion
in 2016. Orange Regional Medical
Center has also announced plans to
construct additional space at its Town of
1 As quoted in Development®, Summer 2014
Wallkill campus with a ±155,000 square
foot medical office building and an
±11,000 square foot cancer center. In
The Office Market in 2014
the City of Middletown, a circa 1893
former railway station will be renovated
The Orange County, NY office market
into the new ±30,000 square foot
continued to recover slowly, with the
flagship facility of the Middletown
vacancy rate for Class A space remaining Community Health Center, a non-profit
unchanged at 9.7% as of year-end 2014. health services provider. Known as the
Despite the fact that this was lower than O&W Building and considered an historic
the national vacancy rate which was still icon in the City, this renovation and
in the 11% to 12% range, the low level of restoration will certainly help
new construction and only moderate
Middletown's ongoing urban renewal that
absorption still indicates a struggling
(continued on page 16)
15
Overview of the Orange County,
NY Commercial Real Estate
Market at Year-End 2014
(continued from page 15)
was augmented by the opening this past
August of Touro College of Osteopathic
Medicine at the former Horton campus
of ORMC.
In 2014, no developers were willing to
commence construction of spec office
space. In 2012, two small buildings
totaling ±12,000 square feet came online and are now fully leased. But a
±10,500 square foot, very attractive
building constructed in Montgomery in
2013 has stood vacant since. Other
than these three buildings, there has
been no significant office space
constructed on spec in the County since
2009, and it is not likely to pick up
anytime soon.
Approximately 70,000 square feet of
Class A office space was absorbed in
Orange County in 2014, and nearly all of
this was through leasing transactions.
Notable deals include the General
Services Administration's lease of
±8,400 square feet on Governor Drive,
and the leasing of ±7,500 square feet by
Lincare on Route 300, both in the Town
of Newburgh. In New Windsor, Clark
Patterson Lee leased ±5,000 square
feet on Executive Drive, and Hudson
Valley Health Group leased ±4,800
square feet at 575 Avenue of the
Americas. In the Town of Wallkill,
Ouimette, Goldstein & Andrews leased
±4,500 square feet at 100 Crystal Run
Road when Allstate downsized and
leased ±3,000 square feet at 90 Crystal
Run Road.
Shovel Ready program.
The total office inventory for the County
at year-end 2014, including non-Class A
space, remained at 5.8 million square
feet, with a vacancy rate of 10.8%, down
a bit from the prior year. Rental rates for
Class A office space were averaging $12
to $15 per square foot, triple net, still
lower than before the recession, with
discounts for larger tenants and
premiums for medical space and new
construction.
Although there is no speculative office
construction on the horizon, the former
A new mixed-use park received approvals ORMC Horton campus, now being
marketed as Horton Complex, has over
in 2014; the 122-acre Warwick Valley
100,000 square feet of existing space
Office and Technology Corporate Park,
being developed by the Town of Warwick that can be converted for office
purposes. With larger floor plates and
on the grounds of the former Midfour stories, tenants seeking a significant
Hudson Correctional Facility, has
amount of space can now easily be
received funding for infrastructure
accommodated.
improvements as part of the IDA's new
Any reprint in full or in part must contain the following copyright notice: Copyright © 2015 Mansfield Commercial Real Estate, Inc. All rights reserved.
Orange County, NY Industrial and Office Historical Information
For additional market information, please visit www.MansfieldCommercial.com
16
218 Greenwich Avenue
Goshen, NY 10924
Phone: (845) 294-1000
Fax: (845) 294-1070
www.MansfieldCommercial.com
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Note: Information herein is subject to errors; omissions; changes of price; rental, or other conditions; withdrawal without notice;
and to any special listing conditions imposed by our principals. All areas and dimensions are approximate.